IndiGo's Rakesh Gangwal 'not interested' in debt-ridden SpiceJet

Gangwal and his wife Shobha Gangwal hold 13.23 percent and 2.99 percent, respectively, in IndiGo operator InterGlobe Aviation, as of June-end, while their Chinkerpoo Family Trust holds a 13.5 percent stake, according to exchange data.

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26 Aug, 2025 12:21

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Rakesh Gangwal of IndiGo is reportedly not looking to acquire a stake in low-cost carrier SpiceJet.

On October 13, reports of the IngiGo co-founder considering buying a stake in debt-ridden SpiceJet had sent the domestic carrier's shares zooming. SpiceJet had surged nearly 20 percent during the day on claims that Gangwal is looking to commit to a stake acquisition in the debt-ridden company.

However, the buzz fizzled out a day later after bankers close to Gangwal dismissed the reports, stating that the former promoter was not remotely interested in making an investment in SpiceJet.

In addition, according to the banker, Gangwal is reportedly upset since the rumours "misguided" retail investors and is considering requesting market regulator Sebi to probe into the matter.

Gangwal and his wife Shobha Gangwal hold 13.23 percent and 2.99 percent, respectively, in IndiGo operator InterGlobe Aviation, as of June-end, while their Chinkerpoo Family Trust holds a 13.5 percent stake, according to exchange data. Gangwal is, however, in the process of exiting the company.